That was only the beginning of Instagram’s summer in limbo. For the next few weeks, the headlines were all about Facebook, all the time, because of the company’s pending IPO. The social networking giant’s stock listing captured the public’s imagination after Zuckerberg showed up to meet Wall Street’s suited bankers in his usual zip-up hoodie, providing the ultimate symbol of Silicon Valley hubris. The company went public at $38 per share on May 18, giving Facebook a valuation of more than $100 billion, worth more than Disney or McDonald’s.
